Английский язык: Аннотирование и реферирование текста

40 Тема 2. START UP YOUR OWN BUSINESS 2.1. Understanding the system of the market economy 2.1.1. Main principles of the free market economy The economic system in the developed countries is decentralized and it is usually described as a system of the free market economy and competition, because competition is the major factor for regulating the behavior of the markets. The major characteristic of the decentralized economy is coordination of the manufacturing process and allocation of goods and services in the market and regulation of the allocation proc- ess using the pricing mechanism. Using this system, the state does not directly intervene in the economic process; it just supports the eco- nomic activity. In this case, the government guarantees: • Free negotiation. • Free market competition. • Active monetary and fiscal policy. Main structural principles of the free market economy: • Private ownership. • Independent Central Bank and currency. • Official policy for encouraging the competition which regulates the market. • Free price-formation. • Free formation of labour compensation. • Free formation of the "rules of the game".